£330bn available in lending to keep firms in business with support for small businesses

The government has today announced that £330bn of business loan guarantees to businesses.

Any business that would require access to a loan on attractive terms, and that the government will go further if they require.

They are looking to support liquidity amongst larger firms, he has agreed a facility with the Bank of England

Support for smaller firms with a business interruption loan scheme, which will offer loans of up to £5M.

It is expected that both schemes will be up and running by next week.

Small businesses within the hospitality or retail sector with grants of up to £25,000.

There will also be support grants of up to £10,000 available to the smallest firms.

There has also been announced that mortgage lenders will also offer a three month mortgage holiday to people who need help.